Geely Automobile Holdings Limited (SEHK:175) proposed to acquire remaining 34.30% stake in ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) for $2.3 billion on May 7, 2025. Geely Automobile Holdings Limited (SEHK:175) entered into an Agreement to acquire remaining 34.30% stake in ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) on July 15, 2025. As part of the consideration, each shareholder to elect to receive $25.66 in cash or 12.3 newly issued shares for each ADS. As part of consideration, $2.27 billion is paid towards common equity of ZEEKR Intelligent Technology Holding Limited. Upon completion, Geely Automobile Holdings Limited will own 100% stake in ZEEKR Intelligent Technology Holding Limited. The stock merger consideration will be in the form of Geely Shares (including Geely Shares represented by Geely ADSs) newly issued by Geely in connection with the Merger. If completed, the Merger will result in ZEEKR becoming a privately held company wholly owned by Geely and the Zeekr ADSs will no longer be listed on the New York Stock Exchange. As of July 15, 2025, the cash component was increased to $26.87 per share. The transaction shall be financed by issuing new Shares, cash reserves and, if necessary, debt financing.

The transaction is subject to consummation of due diligence investigation, customary closing conditions, including approval of the Merger by the affirmative vote of shareholders representing two-thirds or more of Zeekr Shares, approval of the Merger and the other transactions contemplated under the Merger Agreement by the affirmative vote of shareholders representing more than 50% of Geely Shares held by independent shareholders present at a meeting of the Geely's shareholders. The Special Committee, in consultation with its financial and legal advisors, is carefully evaluating and considering the Proposal and has not yet determined whether it is appropriate to pursue this transaction or other alternatives. ZEEKR 's board of directors, acting upon the unanimous recommendation of a committee of independent and disinterested directors established by the board of directors (the "Special Committee"), approved the Merger Agreement and the Merger and resolved to recommend that the Company's shareholders vote to authorize and approve the Merger and certain related matters. The transaction is currently expected to close in the fourth quarter of 2025. As of August 18, 2025, Geely announced that the extraordinary general meeting will be held on September 5, 2025. The transaction is conditional upon the Listing Committee approving and any one Director, or any two Directors if the affixation of the common seal is necessary. As of September 15, 2025, the transaction was approved by the target's shareholder. As of November 21, 2025, ZEEKR Intelligent Technology Holding Limited has filed a Form 6-K with the United States Securities and Exchange Commission regarding the anticipated election deadlines for Eligible ZEEKR Holders to make a valid election with respect to any of their ZEEKR Shares or ZEEKR ADSs, pursuant to the Merger Agreement. As of December 9, 2025, each Eligible ZEEKR Holder may elect, by the applicable election deadline of December 3, 2025 for registered holders of ZEEKR ADSs and December 5, 2025 for holders of ZEEKR Shares, to receive, for any of their ZEEKR Shares or ZEEKR ADSs, as applicable: (i) US$2.687 in cash or 1.23 Consideration Shares for each ZEEKR Share; or (ii) US$26.87 in cash or 12.3 Consideration Shares for each ZEEKR ADS, which will be delivered in the form of Geely ADS(s).

ZEEKR Intelligent announced that the previously established Special Committee of Zeekr Group's Board of Directors has retained Kroll, LLC as its independent financial advisor, and Yang Wang, Jie Min, David Yun, Caitlin Lucey, Chenjing Shen of Simpson Thacher & Bartlett LLP as its independent legal advisor, to assist with its review and evaluation of the previously announced preliminary non-binding ?going private? proposal. Davis Polk & Wardwell LLP is serving as U.S. legal counsel to ZEEKR. Ogier is serving as Cayman Islands legal counsel to the Special Committee. Citigroup Global Markets Asia Limited is serving as financial advisor to Geely. Latham & Watkins LLP is serving as U.S. legal counsel to Geely. Maples and Calder (Hong Kong) LLP is serving as Cayman Islands legal counsel to Geely. Goldman Sachs acted as the financial advisor to Zeekr.

Geely Automobile Holdings Limited (SEHK:175) completed the acquisition of remaining 34.30% stake in ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) on December 22, 2025.